Acer’s Remit regulation kicks-in

Market participants have warned that not all firms are ready for the new rules

The Agency for the Cooperation of Energy
Regulators’ (Acer) new transaction reporting
requirements, known as Remit, came into force today, with the
regulator already receiving data reports.

Under Acer’s Regulation on
Wholesale Energy Market Integrity (Remit), market participants
are required to report their standard power and gas trades to
the regulator via an RRM, with the reporting of more complex
over-the-counter (OTC) trades set to follow in six months.

Acer confirmed Wednesday that the
remaining wholesale energy contracts ((OTC) standard and
non-standard supply contracts; transportation contracts) and
reportable fundamental data from Transmission System Operators
(TSOs), Liquefied Natural Gas (LNG) System Operators (LSOs) and
Storage System Operators (SSOs) will have to be reported from 7
April 2016.